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TKG

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Super Contributor

TKG

Looks like it's in the buying zone.
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16 REPLIES
Super Contributor

Re:TKG

Russ, have a SERIOUS look at Sasol. Time to go long.
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Super Contributor

Re:TKG

Russ, have a SERIOUS look at Sasol. Time to go long.
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Re:TKG

needs to break down first - I would be looking to pick up the stop loss exits - so I would be buying a big downward move (exhaustion move) from here.
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Super Contributor

Re:TKG

I like the look of it, Preston.
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Super Contributor

Re:TKG

skaaptjop, on that reasoning would you go for Vodacom right now as it is below some serious support?
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Re:TKG

I like it yes, but it isn't quite there yet. It is just tickling the break down. It has definitely triggered a buy on my system. So now it has entered my radar, I am just looking for the exhaustion move. This will be characterised by a big down day move (3%-4%) below support. That is when I buy. I tend to trade like a value investor. Relatively strong stocks that are in selloff - i.e. buy the dips.
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Super Contributor

Re:TKG

And very oversold. Interesting, thanks.
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Super Contributor

Re:TKG

The gate crash open and away we go.... Off to the races...Giddyup Sasol....
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Re:TKG

the important criteria is relative strength. The stock has to be trading at an alpha to the market - i.e. outpacing the general market. My other hard and fast rule is the 20% pullback level. Stocks with momentum shouldn't be trading more then 20% off their highs. SOL doesn't fit my criteria - because it is basically sideways to down on a wider scale. Not to say SOL isn't a buy (it looks more like a range bound trade) - but it does't fit in my system. So in a nutshell (1 - Relative strength to the TOPI, 2) within 20% of its yearly highs, 3) on a pullback (I use stochastic below 20%, but this is arbitrary, any pullback will do) 4) no reaction to bad news - negates the trade and 5) a 10% stop loss. anything less is pure random. Sit and wait half a year for at least a 30% gain, or exit if it no longer outperforms the market.
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Super Contributor

Re:Re:TKG

So far so good, Preston!
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Super Contributor

Re:TKG

Thanks skaaptjop. I know there have been times when I have shorted stocks that have dropped below support only to be taken out when the buyers flood back in.
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Super Contributor

Re:Re:Re:TKG

Are you in Russ?
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Super Contributor

Re:Re:Re:Re:TKG

Yes, Preston. It has finally reached support, is oversold, and I think is a safe bet, although it might still churn around a bit. Thanks for the heads-up!
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Super Contributor

Re:Re:Re:Re:Re:TKG

Anytime Russ.
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Super Contributor

Re:Re:Re:Re:Re:Re:TKG

Very soon, we will have ignition of 95 Unleaded feul.....
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Super Contributor

Re:TKG

The TKG chart does not look like a buying zone yet. And i would caution against trading like an investor....
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